RE: Friday Another cross this week by Raymond James. This morning 459,000 shares traded. Is today the last trading day for tax losses?
As I had mentioned. Can use ITA Section 50(1) to claim a loss for 2012 if a shareholder believes the creditor protection process is the end of the company. Normally it shouldn't be and a company restructures then emerges from creditor protection. If it was the end, we would have known in October and the CCAA process never entered into.
50(1) allows an investor to write-off a stock but still hold the stock. That's why I wonder about the block trades this week. Moreover, why the same broker and why it took two trades. Something else is at work here other than tax loss transactions.
If a loss is crystalized in 2012 using 50(1) and then next year find out Futura will continue, upon sale of stock a shareholder have to take into income the entire proceeds.